Black Friday for cryptocurrency? May be not, but..............................

in #litecoin7 years ago


Hey Steemians

So not quite a "black Friday" but nearly all cryptocurrency have had some value wiped off today even as much as 10%, so true to form after a decent increase in the last few days now the mini crash.....

This is making me wonder why? If you have read some of my previous posts you will see i am new to steemit and cryptocurrency so i am calling on the steemit community if anyone has an insight into the current drop in value.

All comments welcome :)

Thanks in advance

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I am somehow sure, the market sentiment is driven by bitcoin price for almost all alt coins including Ethereum. A significant drop in alt coins on Friday was just a reaction of the dipping bitcoin price. Bitcoin price is dipping for a few reasons like scaling issues and uncertainty of a HF. Once there is a clear picture on the scaling debate, bitcoin will gain its positive momentum again.

Some other technical analysis by Goldman Sachs can be found here:
https://steemit.com/bitcoin/@shrirang/goldman-sachs-michael-novogratz-bitcoin-set-for-a-bull-run-to-usd3915

https://steemit.com/bitcoin/@shrirang/goldman-sachs-why-criticise-when-they-turn-out-right-all-the-time

Interesting read on both articles, i hope the predictions are correct 🤞

i think after this drop, we will have a bull run since this market has had a ton of exposure recently

Hey @cryptotraderx that is what i am hoping for 🤔

If the price drops buy buy buy!!